Welcome to June’s edition of Byfield Bites: bringing you the biggest stories and issues impacting the business of law.
The debate over NQ pay has resurfaced, and this time with a vengeance. Annual salary hikes by top US firms have been met with significant increases from the Magic Circle, although the latter still lags slightly in terms of numbers. There appears to be an elevation in the stakes within public discourse, as highlighted by the FT feature that brought the issue to a much broader audience beyond the legal sector. The potential consequences of this could be significant; we may finally be approaching the tipping point, especially following the outcome of the election. It wouldn’t be the first, and won’t be the last, instance of a government cracking down on salaries that are perceived as excessive.
Unsurprisingly, the upcoming election has dominated much of the news agenda for June. From a legal perspective, watch out for Labour’s approach to taxation; as well as reforms to the current planning system to enable additional investment in infrastructure projects. All eyes will be on how the City of London will fare if Labour achieves its expected victory.
Regarding the litigation landscape, it is significant that the Litigation Funding Bill, intended to reverse the PACCAR judgment, has been shelved. As mentioned in our previous newsletters, this bill is crucial for boosting access to justice for those unable to fund their legal costs. It will be interesting to see if industry calls are heeded and this issue is prioritised, especially as the Post Office inquiry rumbles on, by the incoming government.
This month LGBTQ+ PRIDE has opened up important conversations about the importance of firms ensuring that they provide a safe, supportive environment for LGBTQ+ employees to thrive. The Lawyer ran an interesting series of My Pride stories, offering interesting insights into the challenges that LGBTQ+ Lawyers have faced. I also recommend checking out Amy Ulliott’s piece in Legal Business discussing the importance of allyship from firms; the need for intersectionality in this process and the importance of taking care to make sure support is not just a performative tick box exercise.
It will come as no surprise as football has been on our minds with the Euros starting a fortnight ago. Good luck to all those competing in company sweepstakes, although with Poland as my allotted team, I am not expecting it to be Coming Home to my house any time soon.
There has also been some interesting legal developments in football: Manchester City is suing the Premier League over allegations of financial regulation breaches: claiming that the league has acted improperly in its handling of these allegations. With the news that other clubs are looking to support Manchester City, this will prove to be quite some challenge for the Premier League to defend.
mmer awards season has come around again. Congratulations to those who were victorious at The Lawyer Awards and The Legal Innovation Awards this month. A big shout out to our own team, also – as Byfield was recognised at the CityWealth Brand Management and Reputation awards. The agency took home the Silver Award for Communications and PR Agency of the Year. Additionally, our founder Gus Sellitto was honoured with the Career Achievement Award for his remarkable career and lasting impact in the sector. Senior Account Manager Jess Hancock won the Rising Star Award and Senior Account Executive Natalia Mesa Koch won The Best Marketing Executive Award. All awards were very well deserved, well done Gus, Jess and Natalia!
Big Questions for July
- How will the UK firm financials compare to the impressive results by the US?
- Are we finally about to see the tipping point on NQ salaries?
- What legislative changes will be borne out of the results of the general election?
- Will the end of the election boost M&A and IPO activity in UK markets?
- How will firms continue to champion LGBTQ+ acceptance after PRIDE month?
Post of the Month
https://x.com/gifford_head/status/1805865052936786340?s=46&t=f8cwVDhO5SNUF2Rwm86mgg
Lawyer Quote of the Month
Melinka Berridge from Kingsley Napley, on the importance of nurturing the next generation of LGBT talent in The Lawyer –
There is nothing that gives me greater pride than seeing the next wave of LGBTQ+ lawyers succeed and thrive in their roles. I urge all senior lawyers to tap into their insights and energy. One of the most meaningful ways in which I have learnt to be a better leader is through the reverse mentoring I have received from junior colleagues. They have the ability to see things in a way I do not. Their lived experiences are different from my own. All too often we hear older lawyers talk about the younger members of the profession disparagingly for not doing things in the way “they used to do”. Change is good; through their challenge they are helping to future-proof our profession. Cherish and listen to that talent pool, especially those who are LGBT+ to ensure you take account of all views and perspectives.
Byfield Spotlight
- Byfield held our annual summer party last night at the Smiths of Smithfield bar in Farringdon and it was a blast!
Thank you to all of our friends, colleagues and clients for attending and making it such a memorable evening. Here’s to more celebrations and continued success ahead!
- Byfield was ranked in both the Chambers Litigation Support and Crisis & Risk Management Guides for 2024!
For litigation support, Byfield remains strong in Band 2 for Litigation PR, and Gus Sellitto and Michael Evans continue to be recognised as a leading individuals for Litigation PR, with Gus moving up from Band 3 to Band 2, and Michael ranking in Band 4.For crisis & risk management, Byfield ranked in Band 3 and Gus and Michael were again recognised as leading individuals.
- 🎉 So nice, we won it… three times! Byfield’s very own Gus Sellitto, Jessica Hancock and Natalia Mesa Koch won their categories at the Citywealth Brand Management and Reputation Awards! After a clean sweep in the individual categories, Byfield also won the Silver Award for Agency of the Year. What a night!
🚀 Jessica Hancock won the Rising Star Award for her outstanding contributions and huge potential.
🥇 Natalia Mesa Koch received the Best Marketing Executive Award for her exceptional skill and client whispering.
🏆 Gus Sellitto was honoured with the Career Achievement Award for his remarkable career and lasting impact on the field.
🥈 Our agency, Byfield, proudly took home the Silver Award for Communications & PR Agency of the Year. We’re thrilled to be recognised for the work we do for our clients and partners.
We are immensely proud of our team’s hard work and dedication, and these awards are a testament to their passion and expertise. Congratulations to all the winners and nominees!
- Meg spoke to PR Week about her inclusion on the list of the industry’s best and brightest rising stars. Read below to hear from Meg about what makes her tick, her proudest achievements, and how she has become such a treasured and trusted advisor for her many clients.
Byfield couldn’t be prouder of her!https://www.prweek.com/article/1875695/prweek-uk-30-30-2024-meganne-tillay-byfield-consultancy
- On Wednesday, Byfield had the honour of sponsoring the fifth IFSEA International Conference on Executive & Founder Issues. The day was a great success and consisted of a number of discussions and breakout sessions that addressed the cutting-edge issues affecting business leaders, founders, and their professional advisers.
Byfield Founder, Gus Sellitto, had the opportunity to speak as part of the closing plenary session which analysed the ethical, legal, reputational, generational, and personal considerations that advisers should have in mind when deciding to represent or continue to represent individuals and/or organisations facing extremely serious allegations.
A big thank you to everyone involved in the event including conference chair Clare Murray, Managing Partner of CM Murray LLP.
- Gus Sellitto and Dina Hudson were in Amsterdam for Though leaders 4 Disputes: The European Class Actions Forum 2024.
Gus shared his insights during the Strategies for Effective Class Management, Communication, and Distribution discussion which covered topics such as Opt-In case challenges, EU payment functionalities, Claim administration, and Litigation PR.
- As part of London International Disputes Week (LIDW), Gus Sellitto spoke at the breakfast seminar “CAT Amongst the Pigeons: Competition Law, the CAT, Group Actions, and the Next Big Trends,” alongside Edward Bird, CEO of Solomonic, Sarina Williams, Partner at Linklaters, and Robert O’Donoghue KC, King’s Counsel at Brick Court Chambers.
The seminar covered topics such as the transformation of the Competition Appeal Tribunal into the UK’s class action tribunal, the rise in competition claims based on consumer issues, and the reputational impact of high levels of public attention.
Visit the following link to read a full overview of the seminar, provided by Solomonic: https://byfieldconsultancy.com/cat-amongst-the-pigeons-trends-in-the-competition-appeal-tribunal/
Here’s a few things you might have missed…
- 🎉🍰 The Byfield team recently held a charity bake sale and quiz to support the London Legal Walk!
From delicious treats to a fun and challenging quiz, it was wonderful to see our team come together for a worthy cause.
👏 Special thanks to our organisers, Evie Harrington and Scarlett, for making it all happen. It is still possible to donate to the London Legal Support Trust, so if you’re feeling generous, visit: https://londonlegalsupporttrust.org.uk/donate-today/
- Joint Managing Director Ben Girdlestone spoke at the PRCA panel – Legal group: How Does Brand Affect the bottom line. Alongside Ben on the panel was Leor Franks, Chief Business Development & Marketing Officer at Kingsley Napley, Daniela Conte, Director of Brand at Gibson Dunn and Steven Preston, Head of UK Solicitors Research at Chambers and Partners. Their discussion centred around the concept of law firm branding, how it differs from reputation management and its impact on financial performance.
